X0101 EFFECT 33 LIVE 2008-02-26 0000837274-08-000018 485APOS 0000837274 FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST 033-23493 S000007312 FRANKLIN FLEX CAP GROWTH SECURITIES FUND C000061775 Class 4 S000007313 FRANKLIN RISING DIVIDENDS SECURITIES FUND C000061776 Class 4 S000007314 FRANKLIN SMALL-MID CAP GROWTH SECURITIES FUND C000061777 Class 4 S000007315 FRANKLIN SMALL CAP VALUE SECURITIES FUND C000061778 Class 4 S000007316 FRANKLIN STRATEGIC INCOME SECURITIES FUND C000061779 Class 4 S000007317 FRANKLIN U.S. GOVERNMENT FUND C000061780 Class 4 S000007319 MUTUAL DISCOVERY SECURITIES FUND C000061781 Class 4 S000007320 MUTUAL SHARES SECURITIES FUND C000061782 Class 4 S000007321 TEMPLETON DEVELOPING MARKETS SECURITIES FUND C000061783 Class 4 S000007322 TEMPLETON FOREIGN SECURITIES FUND C000061784 Class 4 S000007323 FRANKLIN GLOBAL COMMUNICATIONS SECURITIES FUND C000061785 Class 4 S000007324 TEMPLETON GLOBAL ASSET ALLOCATION FUND C000061786 Class 4 S000007325 TEMPLETON GLOBAL INCOME SECURITIES FUND C000061787 Class 4 S000007326 TEMPLETON GROWTH SECURITIES FUND C000061788 Class 4 S000007327 FRANKLIN GROWTH AND INCOME SECURITIES FUND C000061789 Class 4 S000007328 FRANKLIN HIGH INCOME SECURITIES FUND C000061790 Class 4 S000007329 FRANKLIN INCOME SECURITIES FUND C000061791 Class 4 S000007330 FRANKLIN LARGE CAP GROWTH SECURITIES FUND C000061792 Class 4 S000007331 FRANKLIN LARGE CAP VALUE SECURITIES FUND C000061793 Class 4 S000007333 FRANKLIN GLOBAL REAL ESTATE SECURITIES FUND C000061794 Class 4 S000017299 Franklin Templeton VIP Founding Funds Allocation Fund C000061795 Class 4